Futures rising on Yellen testimony

US stock futures rise after Fed nominee signals accommodative economic policies will continue

Associated Press
US stocks push through latest record highs
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FILE - In this Tuesday, Nov. 12, 2013, file photo, specialist Peter Elkins, left, and trader Michael Smyth work on the floor of the New York Stock Exchange. Asian stock markets were boosted for a second day Friday Nov. 15, 2013 by the incoming Federal Reserve chief's support for continued massive stimulus to aid the U.S. economic recovery. Fragile growth prospects in Europe dampened markets there. (AP Photo/Richard Drew, File)

NEW YORK (AP) -- Futures are rising a day after the nominee to head the Federal Reserve signaled that the country's accommodative economic policy could go on longer than many had expected.

Dow Jones industrial futures are up 28 points to 15,867. S&P futures have gained 3.5 points to 1,791.30. Nasdaq futures are up 5 points to 3,415.50.

During a confirmation hearing, Janet Yellen said that, "It's important not to remove support, especially when the recovery is fragile."

Many Americans seem to agree that the economy is not in full recovery mode, based on earnings from retailers this week.

Wal-Mart cut its annual outlook for the second time in three months, profit plunged at Kohl's and net income at Nordstrom's slumped 7 percent.

The U.S. releases data on industrial production and wholesale inventories Friday.

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